WhaleStats, a crypto tracking service that tracks the movements of whales' addresses, highlighted the altcoins where the top 100 Ethereum whales accumulate in terms of the amount of crypto assets they hold in their portfolios.
WhaleStats drew attention to the altcoins, where the 100 largest Ethereum whales accumulated, together with its share on its official Twitter account. Pointing to the altcoins preferred by Ethereum whales, WhaleStats states that whales have recently been named Polygon (MATIC), FTX Token (FTT), Shiba Inu (SHIB), Decentraland (MANA), The Sanbox (SAND), Chainlink (LINK) and Enjin Coin ( ENJ) reported that they have significantly increased their reserves.
In addition, Ethereum whales have started to record a very serious increase in their LINK reserves, according to WhaleStats. WhaleStats reports that several of the biggest Ethereum whales bought LINK for about $23 million in just hours on Friday, March 11.
The leading cryptocurrency Bitcoin (BTC) was rejected from the $40,000 price levels, and retreated back to critical price levels, despite its attempts to attack upwards in the last 24-hour time frame. With the latest price movements he recorded, BTC started to trade at the price levels of $ 39,100. The recent price movements in Bitcoin have also caused the high volatility in the cryptocurrency market to increase significantly. Ethereum (ETH) started to trade at $ 2,585 price levels after the last price movements it recorded, while XRP exceeded the price levels of $ 0.80 with its strong upward momentum.
What does 'whale' mean in cryptocurrencies?
In cryptocurrency exchanges, the term 'whale' is used to describe individuals or organizations that hold large amounts of a particular cryptocurrency. As these individuals or institutions hold large amounts of coins, they become valuable enough to manipulate the valuation of a particular cryptocurrency.
Whale movement is a signal that has a significant impact on the price of a cryptocurrency depending on the size, source and destination of the transaction. Whales are getting more attention, especially given the recent fluctuations.